Canadian Imperial Bank of Commerce (NYSE:CM) Receives Average Rating of “Buy” from Analysts

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) have received an average recommendation of “Buy” from the eleven ratings firms that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $157.70.

A number of brokerages have recently issued reports on CM. cut their price target on shares of Canadian Imperial Bank of Commerce from $163.00 to $161.00 and set a “buy” rating for the company in a report on Friday, December 3rd. Royal Bank of Canada raised their price target on shares of Canadian Imperial Bank of Commerce from $158.00 to $169.00 and gave the stock an “outperform” rating in a report on Friday, December 3rd. CIBC cut their price target on shares of Canadian Imperial Bank of Commerce from C$168.00 to C$165.00 and set an “outperform” rating for the company in a report on Friday, December 3rd. Finally, Zacks Investment Research upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $122.00 price target for the company in a report on Monday, December 6th.

CM stock opened at $131.59 on Friday. The company has a market cap of $59.34 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 2.98 and a beta of 1.12. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.13. Canadian Imperial Bank of Commerce has a 12 month low of $84.65 and a 12 month high of $131.75. The firm has a 50-day moving average of $116.68 and a two-hundred day moving average of $116.35.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings data on Thursday, December 2nd. The bank reported $3.37 EPS for the quarter, beating the Zacks’ consensus estimate of $2.80 by $0.57. The company had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $5.10 billion. Canadian Imperial Bank of Commerce had a net margin of 27.61% and a return on equity of 16.57%. Canadian Imperial Bank of Commerce’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.79 EPS. As a group, equities analysts forecast that Canadian Imperial Bank of Commerce will post 11.28 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 28th. Investors of record on Wednesday, December 29th will be given a dividend of $1.26 per share. The ex-dividend date is Tuesday, December 28th. This represents a $5.04 dividend on an annualized basis and a dividend yield of 3.83%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.16. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 45.49%.

Several large investors have recently bought and sold shares of CM. Massmutual Trust Co. FSB ADV boosted its position in Canadian Imperial Bank of Commerce by 732.6% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 358 shares of the bank’s stock valued at $40,000 after buying an additional 315 shares during the period. Tower View Investment Management & Research LLC purchased a new position in Canadian Imperial Bank of Commerce in the 3rd quarter valued at approximately $45,000. Huntington National Bank lifted its position in shares of Canadian Imperial Bank of Commerce by 1,230.0% during the 3rd quarter. Huntington National Bank now owns 532 shares of the bank’s stock worth $59,000 after purchasing an additional 492 shares during the last quarter. Liberty Wealth Management LLC lifted its position in shares of Canadian Imperial Bank of Commerce by 31.8% during the 3rd quarter. Liberty Wealth Management LLC now owns 899 shares of the bank’s stock worth $120,000 after purchasing an additional 217 shares during the last quarter. Finally, JJJ Advisors Inc. lifted its position in shares of Canadian Imperial Bank of Commerce by 19.2% during the 3rd quarter. JJJ Advisors Inc. now owns 1,805 shares of the bank’s stock worth $201,000 after purchasing an additional 291 shares during the last quarter. 44.67% of the stock is owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce is a financial institution, which engages in the provision of banking and wealth management services. It operates through the following segments: Canadian Personal and Small Business Banking, Canadian Commercial Banking and Wealth Management, U.S. Commercial Banking and Wealth Management, Capital Markets, and Corporate and Other.

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Analyst Recommendations for Canadian Imperial Bank of Commerce (NYSE:CM)

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